DonAlt: Three Price Ranges Indicate Where Bitcoin (BTC) Is Moving Next
According to a popular crypto analyst and trader, known as DonAlt, there are three price ranges for Bitcoin (BTC) that give guidance of where the leading crypto asset is moving next.
The pseudonymous trader analyst shares with his 318K followers on Twitter that as long as Bitcoin stays below $44,400 he’ll stay bearish. He would only flip bullish if BTC tops $46,200. In between he would remain neutral about where the price moves.
“Right now just looks like a complacency shoulder with the current [price action] mirroring the $60k top. I’d need to see more strength to convince me otherwise.”
At the time of writing Bitcoin is trading at $44,600, with 3% profits on a daily chart and 5.7% loss on a weekly chart.
According to DonAlt, if technicals are left aside, what happens next in the crypto market is all about how well it performs compared to traditional financial markets.
“The non-technical view is: The global markets continue to dump, crypto is just gonna go along for the ride. If traditional markets reclaim what they’ve lost in the last few days, crypto will too.
Right now more important than [technical analysis] is relative strength of crypto vs traditional markets.”
